6ph Vice President Kashim Shettima asked banks to rein in Point-of-Sale (Point of Sale) operators He also asked the banks to tackle the issues of cash scarcity at ATMs and the exploitative practices of PoS agents The VP said that Nigerians are bitter about the lack of cash at ATMs, which prevents them from doing minimal transactions PAY ATTENTION: Follow our WhatsApp channel to never miss out on the news that matters to you! Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade. Nigeria’s Vice President, Kashim Shettima, has asked banks to tackle cash scarcity at ATMs and exploitative practices by point-of-sale (PoS) operators. The VP spoke at the bankers’ committee meeting recently, saying that Nigerians are bitter about the lack of cash at ATMs and that the scarcity is hampering financial inclusion efforts. Shettima blames PoS operators for cash scarcity Tope Fasua, Special Adviser on Economic Affairs, represented Shettima. He asked banks to address some unethical practices by PoS agents that were responsible for the scarcity. Read also FG launches N20bn loan scheme for Nigerians to acquire Innoson, other locally-assembled vehicles PAY ATTENTION: Follow us on Instagram - get the most important news directly in your favourite app! He said Nigerians cannot access cash for minimal transactions and that there are some adverse selection problems with the connivance of PoS agents. Shettima said: “Nigerians complain about high and arbitrary charges and exploitation by rogue agents, which we are sure you will be able to tackle with concerted efforts.” Shettima praised the recent branch openings by Nigerian banks in France, saying Nigeria’s financial institutions have grown globally. PoS agents increase charges Legit.ng earlier reported that Zenith Bank unveiled its new branch in Paris, the French capital, with the United Bank for Africa disclosing that it signed a business cooperation deal with the French government to begin entire banking operations. Recently, financial technology companies began charging an N50 Electronic Money Transfer Levy (EMTL) as the Nigerian Finance Act mandated. The fintech firms notified their customers of the commencement of the EMTL charges, leading to PoS operators increasing their costs . Read also Accounts exempted from FG’s electronic money transfer levy as PoS operators begin new charges Money transfer transactions exempted from EMTL charges Legit.ng earlier reported that some banking transactions are exempted from the EMTL charges. According to the 2023 Finance Act, intra-bank transfers and transactions below N10,000 are ineligible for the EMTL charges. The Nigerian government introduced the EMTL via the Federal Inland Revenue Service for electronic money transfers on transactions of N10,000 and above. PAY ATTENTION : Legit.ng Needs Your Opinion! That's your chance to change your favourite news media. Fill in a short questionnaire Source: Legit.ng

Shares of Wolfspeed ( WOLF 18.31% ) were rocketing higher today, up 15.1% as of 2:26 p.m. ET. The big move higher follows a massive 31% move on Friday, continuing a vicious bounce off of the company's recent lows. Still, Wolfspeed's stock was down over 80% on the year entering the day, showing just how far this once-highly touted chip stock had fallen. Still, today saw more good news, with another insider disclosing an open-market purchase after several board members disclosed share purchases last Friday. Additionally, California Gov. Gavin Newsom provided relief for the electric vehicle (EV) sector and its suppliers, Wolfspeed included. Another insider buy and California's EV tax credit fill-in While a bunch of insider buys were disclosed last Friday, another was disclosed Monday. According to a filing, Wolfspeed director Glenda Dorchak purchased 3,592 shares on Friday, Nov. 22, at an average price of $8.33 per share. While that was a smaller buy than those from other insiders disclosed last Thursday , the additional purchase even as the stock rocketed higher Friday was another encouraging sign. Wolfspeed recently changed its CEO, with Gregg Lowe stepping down and board member Thomas Werner stepping into the executive chairman role to run the company in conjunction with top management, while the company seeks a CEO replacement. That doesn't seem like a very stable situation, so perhaps the insider buys were meant to quell market fears. Besides flailing execution and poor results amid an electric vehicle downturn, Wolfspeed stock has also been plagued more recently by the election of Donald Trump. Post-election, investors have feared the $7,500 electric vehicle tax credit extended as part of the Inflation Reduction Act will be repealed. But on Monday, California Gov. Gavin Newsom announced California would "intervene" if the Federal government repealed the EV tax credit. That likely means California, the largest U.S. state and EV market, would likely replace the tax credit on its own to some extent. The money for the credit would come from California's Greenhouse Gas Reduction Fund, which polluters fund by paying for credits under the state's cap-and-trade program, according to Newsom. That news boosted all EV-related stocks today, including Wolfspeed, which aims to supply silicon carbide chips to EV makers in the future. Wolfspeed has tremendous upside, but high risks Any stock down 80%-plus has lots of rebound potential, Wolfspeed included, should the company get its act together. The company has taken on lots of debt to spend billions on building new state-of-the-art silicon carbide manufacturing plants; however, amid the electric vehicle downturn and some execution issues, Wolfspeed hasn't seen any revenue or profit growth from all that spending yet. However, with the opportunity to bring in a new CEO and its stock down at distressed levels, it appears investors, including company insiders, think a big turnaround may be in the cards.None

The race for the No. 1 overall pick in the 2025 NFL Draft is heating up, and there have been some big changes at the top over the past two weeks. Thanks to this weekend's results, including the New England Patriots 40-7 loss to Los Angeles Chargers on Saturday, as well as the New York Giants' stunning 45-33 win over the Indianapolis Colts on Sunday, the Patriots will now go into Week 18 of the regular season occupying what would be the No. 1 overall spot for the 2025 draft. If the Patriots lose to the Buffalo Bills next week, the top pick in 2025 will belong to them. The Giants' win against the Colts dropped them from the No. 1 spot down to the No. 3 spot, while the Tennessee Titans occupy the No. 2 spot thanks to their loss to the Jacksonville Jaguars. The team that has taken the biggest slide over the past two weeks, however, is the Las Vegas Raiders thanks to their back-to-back wins over the Jaguars and New Orleans Saints. Those two wins have taken them from a potential No. 1 pick and out of the top-five entirely. After Sunday's game, they were down to the No. 8 overall pick. The rest of the top-10 as of Sunday evening looks like this : 1. New England Patriots (3-13); 2. Tennessee Titans (3-13); 3. New York Giants (3-13); 4. Cleveland Browns (3-12 pending result of game against Miami); 5. Jacksonville Jaguars (4-12); 6. New York Jets (4-12); 7. Carolina Panthers (4-12); 8. Las Vegas Raiders (4-12); 9. Chicago Bears (4-12); 10. New Orleans Saints (5-11). The Patriots win the tiebreaker for the top spot because they have played — by far — the easiest schedule of the three 3-13 teams. The team with lowest strength of schedule picks higher as part of the tiebreaker. If the Patriots do end up securing the top pick, it is going to create some interesting options for the front office. Drake Maye looks to be the team's quarterback of the future, so it could open the door for it to select Colorado dual-threat (and Heisman Trophy winner) Travis Hunter or perhaps trade out of the spot for a bounty of picks from a team in need of a quarterback (Tennessee Titans, New York Giants, Las Vegas Raiders). Colorado's Shedeur Sanders and Miami's Cam Ward figure to be the top quarterback prospects off the board and could still be options for teams like the Titans and Giants in the No. 2 and 3 spots barring any trades. This is also a good time for the important reminder that even though fans care about draft position, the players and coaches on the field do not. They are not going to "tank" for draft position when they are playing for careers and jobs. The players on the 2024 Giants and Raiders rosters do not care about draft position when some of them will be playing for different teams next season. They just want to win every game they play.

In pardoning his son Hunter, President Joe Biden opened himself up to fierce criticism from both sides of the aisle, with many accusing him of violating norms. But, while this case stands out as being particularly controversial, the power to issue pardons has been used by nearly all of Biden’s predecessors, including President-elect Donald Trump and former President Barack Obama. In fact, since the founding of the republic, every U.S. president has delivered pardons — questionable or otherwise — with just two exceptions. William Henry Harrison and James Garfield hold the distinction of being the only presidents not to grant clemency during their time in the White House, according to historians. “Both died in office and served the shortest administrations in American history,” Louis Picone, an adjunct professor of history at William Paterson University, told McClatchy News. “There’s nothing — say, in their character — to suggest that they wouldn’t have (issued pardons) if they could have,” Taylor Stoermer, a historian at Johns Hopkins University, told McClatchy News. “They just didn’t have the chance.” Harrison William Henry Harrison, a Whig politician from Virginia, became the ninth president of the U.S. upon his inauguration in March 1841. However, less than one month into his first term, he developed pneumonia and died on April 4 — becoming the first president to pass away while in office, according to White House records. “Harrison died 31 days after taking the oath of office and was sick through much of his brief term,” said Picone, the author of “The President is Dead!” “He did little of substance during that time, let alone presidential pardons.” “There wasn’t even a thought given to pardons,” Stoermer said. This is because — much like today — pardons are typically doled out toward the end of a president’s term, Thomas Balcerski, a presidential historian at Eastern Connecticut State University, told McClatchy News. Additionally, “as compared to modern presidents, the power of clemency was but rarely used in the 19th century,” Balcerski said. For example, George Washington didn’t issue his first pardon until he’d been in office for five years, Picone said. More politics news → How does Senate confirmation process work? What to know as Trump makes Cabinet picks → Trump to return to White House after 4 years. Only one past president has done that → How did LGBT Americans vote in election? Exit poll finds significant shift from 2020 Garfield James Garfield, America’s 20th president, similarly met an untimely end while in office. A longtime Democratic representative from Ohio, he was elected in 1880 and inaugurated in March 1881. However, four months into his term, on July 2, he was shot by a disgruntled lawyer while at a train station in Washington, D.C. He then spent the next few months “in agony and out of action” and “rapidly deteriorated,” Picone said. He was “effectively done for the next 79 days until he died” on Sept. 19 — before issuing a single pardon, Stoermer said. How are Democrats reacting to Biden pardoning his son? Here’s what’s been said so far Biden’s approval rating drops post election, poll finds. Is that normal for lame ducks? Bernie Sanders says ‘Elon Musk is right’ about needing ‘change’ in military spendingNEW YORK (AP) — Top-ranked chess player Magnus Carlsen is headed back to the World Blitz Championship on Monday after its governing body agreed to loosen a dress code that got him fined and denied a late-round game in another tournament for refusing to change out of jeans . Lamenting the contretemps, International Chess Federation President Arkady Dvorkovich said in a statement Sunday that he'd let World Blitz Championship tournament officials consider allowing “appropriate jeans” with a jacket, and other “elegant minor deviations” from the dress code. He said Carlsen's stand — which culminated in his quitting the tournament Friday — highlighted a need for more discussion “to ensure that our rules and their application reflect the evolving nature of chess as a global and accessible sport.” Carlsen, meanwhile, said in a video posted Sunday on social media that he would play — and wear jeans — in the World Blitz Championship when it begins Monday. “I think the situation was badly mishandled on their side,” the 34-year-old Norwegian grandmaster said. But he added that he loves playing blitz — a fast-paced form of chess — and wanted fans to be able to watch, and that he was encouraged by his discussions with the federation after Friday's showdown. “I think we sort of all want the same thing,” he suggested in the video on his Take Take Take chess app’s YouTube channel. “We want the players to be comfortable, sure, but also relatively presentable.” The events began when Carlsen wore jeans and a sportcoat Friday to the Rapid World Championship, which is separate from but held in conjunction with the blitz event. The chess federation said Friday that longstanding rules prohibit jeans at those tournaments, and players are lodged nearby to make sartorial switch-ups easy if needed. An official fined Carlsen $200 and asked him to change pants, but he refused and wasn't paired for a ninth-round game, the federation said at the time. The organization noted that another grandmaster, Ian Nepomniachtchi, was fined earlier in the day for wearing sports shoes, changed and continued to play. Carlsen has said that he offered to wear something else the next day, but officials were unyielding. He said “it became a bit of a matter of principle,” so he quit the rapid and blitz championships. In the video posted Sunday, he questioned whether he had indeed broken a rule and said changing clothes would have needlessly interrupted his concentration between games. He called the punishment “unbelievably harsh.” “Of course, I could have changed. Obviously, I didn’t want to,” he said, and “I stand by that.”British-Canadian computer scientist Geoffrey Hinton and co-laureate John Hopfield are set to receive the Nobel Prize for physics on Tuesday in Stockholm. The pair landed the accolade because they used physics to develop artificial neural networks, which help computers learn without having to program them. These networks form the foundation of machine learning, a computer science that relies on data and algorithms to help artificial intelligence mimic the human brain. Hinton and Hopfield's path to the Nobel began when Hopfield, who is now a professor emeritus at Princeton University, invented a network in 1982 that could store and reconstruct images in data. The Hopfield network uses associate memory, which humans use to remember what something looks like when it's not in front of them or to conjure up a word they know but seldom use. The network can mirror this process because it stores patterns and has a method for recreating them. When the network is given an incomplete or slightly distorted pattern, the method then searches for the stored pattern that is most similar to recreate data. This means if a computer was shown, for example, a photo of dog where only part of the animal was visible, it could use the network to piece together the missing part of the image and recognize it was depicting a dog. Hinton, who was working at Carnegie Mellon University in Pittsburgh in 1985, used the Hopfield network as the foundation for a new network he called the Boltzmann machine. Its name came from the nineteenth-century physicist Ludwig Boltzmann. The Boltzmann machine learns from examples, rather than instructions, and when trained, can recognize familiar characteristics in information, even if it has not seen that data before. The Royal Swedish Academy of Sciences, which gives out the Nobel, likens this to how humans may be able to identify someone as a relative of one of their friends, even if they've never met this person before, because of they share similar traits. The Boltzmann machine works in a similar way, classifying images or creating new examples based on the patterns it was trained on. This kind of technology can help suggest films or television shows based on a user's preferences and past viewing history The Hopfield network and Boltzmann machine are considered to have laid the groundwork for modern AI. Hinton, a professor emeritus at the University of Toronto, went on to win the A.M. Turing Award, known as the Nobel Prize of computing, with fellow Canadian Yoshua Bengio and American Yan LeCun in 2018. He is often called the godfather of AI. This report by The Canadian Press was first published Dec. 8, 2024. Tara Deschamps, The Canadian Press

Supreme Court to weigh bans on puberty blockers, hormones for trans teensNoneIBC has helped banks recover Rs 10 lakh crore stuck in bad debt: RBI Deputy GovernorUnderstanding the science behind Hinton and Hopfield's Nobel Prize in physics

Bannon on Gaetz' AG withdrawal: 'We took a casualty’Jimmy Carter, the 39th US president, has died at 100Natural gas prices hovering near 1-year high as peak winter season approaches

NonePublic Sector Pension Investment Board Lowers Stake in Ulta Beauty, Inc. (NASDAQ:ULTA)Liberty Broadband Co. ( NASDAQ:LBRDP – Get Free Report ) announced a quarterly dividend on Saturday, December 28th, Wall Street Journal reports. Stockholders of record on Tuesday, December 31st will be paid a dividend of 0.4375 per share on Wednesday, January 15th. This represents a $1.75 annualized dividend and a dividend yield of 6.96%. The ex-dividend date of this dividend is Tuesday, December 31st. Liberty Broadband has raised its dividend payment by an average of 58.7% annually over the last three years. Liberty Broadband Stock Up 0.5 % Shares of NASDAQ:LBRDP opened at $25.15 on Friday. The business’s 50 day moving average is $24.16 and its 200 day moving average is $23.71. Liberty Broadband has a 12-month low of $21.82 and a 12-month high of $25.45. About Liberty Broadband Liberty Broadband Corporation engages in the communications businesses. The company's GCI Holdings segment provides data, wireless, video, voice, and managed services to residential customers, businesses, governmental entities, educational, and medical institutions in Alaska under the GCI brand. Featured Stories Receive News & Ratings for Liberty Broadband Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Liberty Broadband and related companies with MarketBeat.com's FREE daily email newsletter .

PITTSBURGH -- Sidney Crosby broke Mario Lemieux's Pittsburgh franchise career record for assists on Michael Bunting's power-play goal and the Penguins beat the New York Islanders 3-2 on Sunday night. Crosby has 1,034 assists, good for 12th in NHL history. Only three players -- Ray Bourque, Wayne Gretzky and Steve Yzerman -- have more assists with a single team. The 37-year-old Crosby has played 1,310-regular-season games. Lemieux played 915. Philip Tomasino added the deciding power-play goal in the third for Pittsburgh, which has 14 goals with the man advantage in its last 13 games. Anthony Beauvillier also scored to help the Penguins win for the seventh time in their last eight home games. Alex Nedeljkovic made 29 saves in his first start since Dec. 17. Kris Letang missed the game because of a lower-body injury, and defenseman Nathan Clurman made his NHL debut. Anders Lee scored two third-period goals for the Islanders, who fell behind 3-0 before their rally fell short. Marcus Hogberg stopped 38 shots during his first start since April 28, 2021. Islanders : Have lost five of their last eight games after splitting the back-to-back, home-and-home series with Pittsburgh. Penguins : Rebounded from a 6-3 road loss against the Islanders 24 hours ago. Pittsburgh has won 10 of 15 after losing eight of its previous 10 games. Crosby was behind the net when he sent a backhand feed to Bunting, who buried his seventh power-play goal behind Hogberg at 1:36 of the second period, giving the Penguins a 2-0 lead. Both teams play again Tuesday. Pittsburgh visits Detroit, while the Islanders begin a home-and-home series at Toronto. The CBS New York Team is a group of experienced journalists who bring you New York web coverage on cbsnews.com.Trade Minister Don Farrell yet to speak with incoming US Secretary of Commerce

South Korea lifts president's martial law decree after lawmakers reject military ruleGoldman Sachs logo / Yonhap Korea is expected to face continued volatile trading conditions in the near term, hamstrung by potential downside risks to earnings and policy uncertainties both domestically and globally, Goldman Sachs said in a report, Wednesday. However, Korean equities remain attractive, largely due to their overall low valuation. Also favorable is the opposition party-driven re-rating of Korea's stock market, as evidenced by the Corporate Value-up initiative and related bills. Recent waves of legislative efforts to revise the Capital Markets Act and the Commercial Act are expected to encourage more companies to make shareholder-friendly decisions. Whether the recently heightened political uncertainty from the martial law fiasco will lead to wider volatility remains to be seen. For context, the impeachments of the country’s two former presidents – Roh Moo-hyun in 2004 and Park Geun-hye in 2016 – did not result in significant foreign capital outflows. “The macro backdrop looks more challenging for Korea going into 2025,” the report said. Chief among the headwinds are the global dominance of a strong U.S. dollar, high long-term interest rates, and tariff uncertainties. The Korean economy is expected to slow due to weakening growth in both exports and industrial production. “Korea’s earnings downgrades cycle could persist given sustained weak export growth and declining DRAM prices. Thus, the fundamental backdrop looks unlikely to improve at the moment given potentially higher economic policy uncertainties. These assessments and our outlook have met with broad agreement in recent conversations with domestic investors." Nonetheless, market conditions are improving, as indicated by bipartisan legislative efforts to strengthen shareholder rights and improve corporate governance, it added. “We believe disclosure of treasury shareholdings and enhancing the fiduciary duty of board members will help balance the interests of ordinary shareholders and corporations.” The report noted that equity market volatility increased in the lead-up to the impeachment votes of the two former presidents but rebounded afterward. The KOSPI index rally continued after Park’s impeachment, propelling a gain of over 20 percent in the six months after the vote. In the case of Roh, the benchmark index fell over 20 percent after an initial rebound. “Neither impeachment event drove strong foreign outflows, although there were tactical outflows around the actual key event dates, such as the parliamentary vote and the constitutional court decisions.” Beyond these market and portfolio flow observations, Korea’s impeachment process led to higher economic policy uncertainty. “Both domestic policy uncertainty and the broader macro backdrop will likely influence market developments.” To remove this article -